Reuters/United States Geological Survey /Handout Here is what you need to know.
China says it did not offer Trump a deal to slash the trade gap by $200 billion. Hours earlier, it dropped an anti-dumping probe into US sorghum imports in a conciliatory gesture as top officials meet in Washington, Reuters says.
Japanese inflation is moving further away from the Bank of Japan's 2% target. Core inflation, which excludes fresh food, rose by just 0.7% in the year to April, down from the 0.9% print in March, Japanese government data showed. See the rest of the story at Business Insider NOW WATCH...Read more ...

Thomas Peter/Reuters
China denied on Friday that it had offered a package to slash the U.S. trade deficit by up to $200 billion.
Hours earlier, it dropped an anti-dumping probe into U.S. sorghum imports in a conciliatory gesture as top officials meet in Washington.
Getting to a $200 billion reduction of the U.S.-China trade deficit on a sustainable basis would require a massive change in the composition of trade between them, and the news had been met with scepticism from economists.
BEIJING - China denied on Friday that it had offered a package to slash the U.S. trade deficit by up to...Read more ...